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Commercial Property Case Study

New Commercial Property Lease Agreement Saves CEO's Bacon

Situation
A New York-owned marketing group was operating its Auckland office at a "down-at-the-heels" inner city fringe location. The offices were near a railway yard, just down the road from a gang HQ, and in a low profile part of the city.

A visit to New Zealand from the company's world-wide chief executive left the local CEO with an ultimatum to find better office space representing the company's brand, or find a new job.

The company had a big reputation internationally with some major corporate clients in New Zealand.

Parallel Directions was brought in to see if they could find a solution; a new Auckland location with high quality office space, a great working environment, close to other professional organisations, and a good address with a good frontage.

Solution
After investigating the company's needs in detail, Parallel Directions found the perfect office space in Newmarket.

There was one last space to lease in a new office building and the building's owners were keen to sell the building fully tenanted. If they could provide a good commercial lease agreement over a good term, it would increase the value of the building.

So a deal was struck. The marketing company got a good deal on their lease agreement, and ended up at a premier address, close to other professional services, with a good office design for their premises. The air conditioning, cabling, and office design were good, the offices had large windows and benefits such as a gym on the ground floor.

The office space was fitted out with vibrant colours and the company moved from partitioned offices to an open plan layout. Acoustic tiles were fitted that ensured the office hubbub did not spread right across the whole work space.

Parallel Directions had brought together an understanding of the business' strategic direction, expertise in negotiating commercial lease agreements, project management and industry contacts to complete the office design fit-out, providing a total solution.

Outcome
On a return visit to New Zealand, the world-wide CEO noticed, on getting out of his taxi, that one of the company's top international clients had offices in the same building. He was delighted with the new location. The staff were happy in the new offices, and the company achieved a significant return on investment by saving more than 12 times Parallel Directions' fee in the move.

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